Binance alternatives

Compare the best alternatives to Binance for Canadian crypto traders.

By   |   Updated 7th June 2022

Comparing Binance alternatives

Bitbuy

On Bitbuy's website

Featured

Bitbuy

Highlights

  • If you are new to crypto trading, Bitbuy is for you. Binance’s advanced tools are designed to support experienced investors.
  • There are more cryptocurrencies listed on Binance compared to what’s available on Bitbuy, including many altcoins and NFTs.
  • Based in Toronto, Canada, Bitbuy is regulated by FINTRAC and available throughout Canada. Binance is unavailable in Ontario.
Coinbase

On Coinbase's website

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Highlights

  • Offers a substantial list of digital assets including many altcoins. Binance still offers more though.
  • Coinbase offers recurring buys, like with Binance. Daily, weekly, or monthly available.
  • Crypto stored on Coinbase servers is covered by its insurance policy.
Coinsquare

On Coinsquare's website

Highlights

  • Binance has substantially more trading pairs than what's available with Coinsquare.
  • Assets stored on either exchange are not covered by insurance, which is the case with others.
  • Coinsquare is available for all Canadians and is a registered MSB with FINTRAC, unlike Binance.
NDAX

On NDAX's website

Highlights

  • NDAX requires a minimum deposit of $100.
  • Withdrawals from NDAX are more expensive compared to Binance.
  • NDAX’s customer support is highly regarded and available 24/7.
  • Both exchanges store digital assets in cold wallets.
Coinberry

On Coinberry's website

Highlights

  • Binance has a much wider selection of digital assets to trade than Coinberry.
  • Coinberry offers 0% CAD funding and withdrawal fees.
  • Coinberry uses Gemini’s cold storage, giving its investors security and peace of mind. They are FINTRAC-registered and available throughout Canada.
CoinSmart

On CoinSmart's website

Highlights

  • There are significantly more tradable crypto assets on Binance compared to CoinSmart.
  • CoinSmart’s trading fees are simple and straightforward.
  • Binance’s interface might be overwhelming to a new crypto trader compared to CoinSmart’s simple design.
  • CoinSmart is based in Toronto and registered with FINTRAC. Binance is not available to Ontarians.
Shakepay

Highlights

  • Shakepay only supports 2 major coins, Bitcoin and Ethereum. Binance has a much broader offering, including an NFT marketplace.
  • Deposits and withdrawals are free at Shakepay.
  • Although Shakepay does not charge a trading fee, take note that each transaction incurs a spread fee.
  • Licensed as a Money Service Business by FINTRAC and the AMF, Shakepay is available for all Canadians. Binance isn’t available in Ontario.
Newton

Highlights

  • Newton is clearly more geared towards a beginner trader. Its user interface is one of the best in Canada.
  • You can fund and withdraw from your Newton account for free.
  • Newton is built in Canada and is FINTRAC regulated. Binance is not and is unavailable to those in Ontario.
Kraken

On Kraken's website

Kraken

Highlights

  • Kraken has a substantial choice of tradable assets, but Binance has more.
  • Kraken’s trading and withdrawal fees are lower than they are on Binance.
  • Binance is tailored for advanced traders while Kraken is best suited for beginner or intermediate traders.
  • Kraken is FINTRAC-registered and available anywhere in Canada.